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Antal Fekete: Red alert -- gold backwardation
4:30p ET Friday, December 5, 2008
Dear Friend of GATA and Gold:
Economist and monetary historian Antal Fekete warns in commentary posted today at GoldSeek that gold and silver are showing signs of going into backwardation -- metal to be delivered today being priced higher than metal to be delivered later -- because buyers don't believe that the metal will be available later, don't believe paper promises of metal anymore. Fekete says this foretells the collapse of the dollar and other fiat currencies. His commentary is headlined "Red Alert: Gold Backwardation," and you can find it at GoldSeek here:
http://news.goldseek.com/GoldSeek/1228499200.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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